Applicable Term Rate means the following percentages per annum based on whether that portion of the Term B Loan is a Eurodollar Rate Loan or a Base Rate Loan: (a) for a Eurodollar Rate Loan, 1.50%, and (b) for a Base Rate Loan, 0.25%.”
Applicable Term Rate means, for any day, with respect to any ABR Term Loan or Eurodollar Term Loan, as the case may be, the applicable rate per annum set forth below under the caption “ABR Spread” or “Eurodollar Spread”, as the case may be. Eurodollar Spread ABR Spread Applicable Term Rate 250 bps 0 bps
Applicable Term Rate is deleted in its entirety and replaced with the following:
Examples of Applicable Term Rate in a sentence
Each Revolving Loan denominated in Dollars shall bear interest on the outstanding principal amount thereof from the applicable Borrowing Date at a rate per annum equal to (i) Term SOFR plus the Applicable Term Rate Margin, or (ii) the Base Rate plus the Applicable Base Rate Margin, as the case may be (and subject to the Borrowers’ right to convert (x) Base Rate Loans to Term SOFR Loans, and (y) Term SOFR Loans to Base Rate Loans).
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More Definitions of Applicable Term Rate
Applicable Term Rate is specified hereon as the method of Screen Rate Determination and the relevant Reference Rate is not XXXXX, SOFR, €STR or SARON:
Applicable Term Rate means, for any day, (a) with respect to any ABR Loan or Eurocurrency Loan of a Class of Term Loans established pursuant to Section 2.23 or 2.24, the rate per annum specified therefor in the applicable Extension Agreement or Refinancing Facility Agreement and (b) with respect to any ABR Loan or Eurocurrency Loan that is a Tranche A Term Loan, the applicable rate per annum set forth below under the caption “ABR Spread” or “Eurocurrency Spread”, as the case may be, based upon the Secured Leverage Ratio as of the end of the fiscal quarter of Xxxxxx USA for which consolidated financial statements have been delivered (or were required to have been delivered) pursuant to Section 5.01(a) or 5.01(b); provided that, for purposes of clause (b), until the date of the delivery of the consolidated financial statements pursuant to Section 5.01(a) or 5.01(b) as of and for the first fiscal quarter ended after the Effective Date, the Applicable Term Rate shall be based on the rates per annum set forth in Category 1: Secured Leverage Ratio: ABR Spread Eurocurrency Spread Category 1 £ 3.00 to 1.00 1.75 % 2.75 % Category 2 > 3.00 to 1.00 2.00 % 3.00 % For purposes of the foregoing, each change in the Applicable Term Rate resulting from a change in the Secured Leverage Ratio shall be effective during the period commencing on and including the Business Day following the date of delivery to the Administrative Agent pursuant to Section 5.01(a) or 5.01(b) of the consolidated financial statements indicating such change and ending on the date immediately preceding the effective date of the next such change. Notwithstanding the foregoing, the Applicable Term Rate shall be based on the rates per annum set forth in Category 2 (i) at any time that an Event of Default has occurred and is continuing if the Required Lenders shall so elect or (ii) if Xxxxxx USA and the Company fail to deliver the consolidated financial statements required to be delivered pursuant to Section 5.01(a) or 5.01(b) or any Compliance Certificate required to be delivered pursuant hereto, in each case within the time periods specified herein for such delivery, during the period commencing on and including the day of the occurrence of a Default resulting from such failure and until the delivery thereof.
Applicable Term Rate means, for any day, with respect to any ABR Term Loan or Eurodollar Term Loan, as the case may be, the applicable rate per annum set forth below under the caption “ABR Spread” or “Eurodollar Spread”, as the case may be, based upon the Ratio, applicable on such date of the Borrower’s Consolidated Total Funded Debt to EBITDA measured at each Fiscal Quarter end, for the four Fiscal Quarter period then ended, taken together as a single accounting period:
Applicable Term Rate as set forth in Section 1.01 of the Credit Agreement are hereby amended so that the term “Consolidated Total Funded Debt” as used therein is superseded and replaced in its entirety with “Consolidated Senior Funded Debt” each time it appears therein.
Applicable Term Rate means at any time, (a) with respect to Eurodollar -------------------- Loans, a rate per annum equal to the Eurodollar Rate, (b) with respect to CD Rate Loans, a rate per annum equal to the CD Rate, (c) with respect to Base Rate Loans, a rate per annum equal to the Alternate Base Rate and (d) with respect to Alternate Currency Loans, a rate per annum equal to the Alternate Currency Rate.
Applicable Term Rate as set forth in Section 1.01 of the Credit Agreement is hereby superseded and replaced in its entirety and amended to read:
Applicable Term Rate means, for any day, with respect to any ABR Term Loan or Eurodollar Term Loan, as the case may be, the applicable rate per annum set forth below under the caption "ABR Spread" or "Eurodollar Spread", as the case may be, based upon the Ratio, applicable on such date of the Borrower's Consolidated Total Funded Debt to EBITDA measured at each Fiscal Quarter end, for the four Fiscal Quarter period then ended, taken together as a single accounting period: ----------------------------- ----------------------- ------------------- Total Funded Eurodollar ABR Debt/EBITDA Spread Spread ----------------------------- ----------------------- ------------------- less than or equal to .50 125 bps 0 bps to 1 ----------------------------- ----------------------- ------------------- greater than .50 to 1, but 135 bps 0 bps less than or equal to .75 to 1 ----------------------------- ----------------------- ------------------- greater than .75 to 1, but 150 bps 0 bps less than or equal to 1.00 to 1 ----------------------------- ----------------------- ------------------- greater than 1.00 to 1, but 175 bps 0 bps less than or equal to 1.25 to 1 ----------------------------- ----------------------- ------------------- greater than 1.25 to 1, but 200 bps 0 bps less than or equal to 1.50 to 1 ----------------------------- ----------------------- ------------------- greater than 1.50 to 1, but 250 bps 25 bps less than or equal to 1.75 to 1 ----------------------------- ----------------------- ------------------- greater than 1.75 to 1, but 300 bps 50 bps less than or equal to 2.00 to 1 ----------------------------- ----------------------- ------------------- The Applicable Term Rate shall be the basis points number set forth above which corresponds to the Consolidated Total Funded Debt/EBITDA Ratio of the Borrower for the Fiscal Quarter most recently ended and for which financial statements have been received pursuant to Section 5.01 of this Agreement; provided further that if Borrower at any time shall fail to deliver such financial reports to the Administrative Agent within the time required pursuant to ss. 5.01 of this Agreement, then the Applicable Term Rate shall revert, as of the last date on which such financial statements could have been delivered in compliance with ss. 5.01, to the highest rate provided, until such financial reports shall have been delivered.